6c4 
THE TROPICAL AGRICULTURIST. 
[March i, 1898 . / 
have promised to be more careful in future as 
to shipping the eggs ; and it is hoped that arrange- 
ments have been made as regards the coming batches, 
which will prevent the recurrence of such disasters. 
It may be some slight comfort to know that we are 
not the only Club that has to face such disappoint- 
ments, for the annual report of the Nilgherry Garne 
and Fish Association has a very similar tale to tell, 
and even heavier losses to deplore. If it were 
necessary further to prove that “ the best-laid schemes 
of trout and men gang oft agley,” two slight inci- 
dents might be mentioned which confirm the theory. 
As it was an abnormally warm season when the ova 
arrived, we telegraphed to Colombo for ice, 
to lower the temperature in the filter boxes. It 
arrived packed in kerosine tins ! and so impregnated 
with oil that none of it could be used. Again, about 
forty of our few surviving fry suddenly died in 24 
hours of no perceptible cause except a small red 
spot on the gullet. A careful search through the 
toughs disclosed the presence of three or four leeches, 
and if these were really the cause of the loss, another 
terror is added to the troubles of tropical trout 
breeding. 
FINANCE. 
The financial condition of the Club is quite satis- 
factory. After paying for the unlucky ova, and 
meeting two abnormal and heavy charges, the re- 
building of the hatchery and the making of the btew- 
pond at Queen’s Cottage, the balance to our ciedit 
today is El,230 91. Our income has steadily increased 
both in the way of subscriptions and licenses, in 
spite of the manifold claims upon the purse during 
Jubilee Year; and, as far as one can judge, the 
average fisherman finds quite enough sport to justify 
his expenditure. — S. M. iiuRRows, J. Wickwak, Hon, 
SecretSiries 
The accounts from October 1st, 1896, to November 
80th, 1897, showed the receipts (including a balarfce 
of R1 213-58 from last year’s account) to be E4, 459-31 and 
that after meeting payments there was a balance of 
El, 258-66. 
(since realised), £186 3s 6d. The Accounts deal with 
only 8 months, but already we have produce which 
we can point to as realising the expectations 
Sield out to the Shareholders in the prospectus. 
We have saved and secured under disadvantageous 
circumstances a certain quantity of the crop of last 
year, we have brought that quantity to market, and 
and have realised for it a high price. The highest 
price for the best coffee is 108s, the average is 96s. 
and we, the Directors, may well congratulate the 
Shareholders on having in their first accounts such 
an item as “ Sales of Produce.” 
We pass to Old Cultivation expenses. In order to 
keep the estate going, and to secure the small 
amount of produce that was brought to market last 
year, we had to lay out the sum of £330 Os 5d. 
From this is deducted the amount realised for pro- 
duce here, £186 3s 6d. There is a small ba’ance of 
produce now in Costa Rica to be realised, and the 
amount which we stand to lose (if we can call it 
losing) will be probably £50 or thereabouts ; so that 
we shall have recovered within a very small amount 
all that we have laid out on our property before 
we come to actual profitable working. I venture 
to submit this is a very satisfactory state of things 
in the inception of a Company like ours. 
With regard to New Cultivation Expenses, the 
sum under this heading will be charged against our 
next crop, incoming within a few months, and now 
being gathered. The Administration Expenses have 
been kept as low as it is pos.sible to keep them. I 
would only r-emark on two points: one is that the 
salary of the Manager has not been fully drawn, in 
fact a very small amount up to the present date 
has been paid on account of it. The Directors have 
drawn absolutely nothing up to the present time. 
They do not intend to work for nothing and it is 
their intention to draw £250 on account of the 
£500 which stands, as yon will observe, on both sides 
of’ the Account, leaving the remainder over. It is 
necessary to put this amount of £500 in the account, 
but I wish to call your attention to the way in 
which the Directors propose to deal with it. 
There is only one other item in the Account, 
IS only one other item in 
COFFEE PLANTING IN COSTA RICA. yiz.^ Preliminary Expenses. These are the 
Renort of nroceedings at the First Annual Gene- "expenses which have to be debited to account 
ral ‘Meeting of the Sarapiqui estates Company, Lim of the formation of the Company, consisting 
held at the Terminus Hotel, Cannon Street, E.C- principally of Brokerage on the Shares. Our com- 
nn Tnesdav December 21, 1897. Mr. Gilbert D. pany was not advertised, and no promoter had to 
Tenoims in the Ohairr , paid. I think you will agree with me that this 
A^i^hd notice convening the meeting had been charge is reasonable. , . .u 
hv the Secretary the Chaikman said : In calling Passing to the Report, we are glad to find that the 
.rttention of the Shareholders to a few more acreage already being coffee, 128 acres in the pros- 
^Uiniirthan are given in the Report, I will begin with pectus, has renieasurable to 144 acres— a small gain, 
the Accounts that we have before us. I am happy to Since the company has been formed soxne 400 acres 
Iwot »11 the calls UD to the present date on our have been taken in hand and partly planted with 
Allies arrencLhed ^^ I w also to explain the coffee. It was the intention of the Board at first to 
° ii^t of £3 000 due to the Vendor for purchase realise the company’s Estate in many other direc- 
amouni , retained in tions beside coffee, but this intention has been modi- 
cover certain iiabilities of the Vendor for fied by their subsequent consideration of the circum- 
stances made to him, and for taxes on the Estate, stances. It has been found that our capital is only 
T? n^libablv will be cleared at an' early date. The enough to provide at present for cultivation. The 
am^^nt of the BUls Payable seems large, £2,850, but profits from coffee he close to our hands. The other 
fw We all been since paid, and I think I may state profits enticing as they may be, from the cultivation 
thr company is without any liability whatever, of rubber and tobacco or the realisation of Timber, 
•nat vpv., j fWa cca8iiai8o are more remote, and as business men we consider 
that every fact before us leads in the direction of 
seeking our profit at present from coffee, and coffee 
alone ; and we submit this to the shareholders believ- 
ing that they will approve our plan. The history 
of the company I need not refer to ; it was formed 
from a small Syndicate which subscribed its money 
and has been repaid in Shares of the concern. 
Mr. Sbaiid, to whom the Meeting will have the pleasure 
of listening directly, visited Costa Rica, and was so im- 
pressed with the value of the property that he expressed 
his willingness to join the Board. We received him 
with great pleasure, and we have looked upon him as 
bevond those of a trivial kind. ' On the credit side, 
the item development Account demands a woi'cl 
nr two of explanation. The Development Account 
may be described as money laid out on the work- 
ins plant of the Estates, such as machinery, 
water power (I am thankful to say that there is 
no prospect of our needing any power but the water 
newer which lies close to our own doors), pasture 
sround, and certain other matters conned ed with the 
including road-making. L;^bcur Advances and 
Sher Cances in Costa Rica amount to £2,985 2s lid. 
These are advances made to labourers. It is the cus- 
i n Costa Rica to secure labour by means of ad- . . . , . 
vances which are worked off in one form or another, main stay in jilanting matters. Mr Rothe felt for 
i f ^rincinallv in labour given to the Estate. The Costa Rica in February, this year. When he arrived 
iSm is an advantageous one, and this account will in Costa Rica he had all the legal business of the con- 
r^anpTar in the Balance Sheets year bv year presented, cern to do ; the transfer of the titles, the translation of 
mn navt item I am glad to say, is the most satisfac- Documents, and the Registration of the Company. It 
• hory that we have on our Accounts Produce in Hand is bard to see what work it was possible for him to 4<? 
